The House Financial Services Committee passed The Securities Fraud Deterrence and Investor Restitution Act (H.R. 2179), which would permit the SEC to more easily collect fines and funds from those who have broken the law. It would also increase the amount of funds the SEC would be able to return to injured investors.
State laws would no longer be able to be used to protect ill-gotten gains, and the SEC would be able to obtain bank records in securities violations cases, as well as increase the Commission's access to grand jury information. Finally, its powers of subpoena would be enhanced.